SunTrust Banks, Inc. (NYSE:STI) – Equities researchers at Wedbush raised their Q1 2019 EPS estimates for SunTrust Banks in a research note issued on Wednesday, March 27th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings of $1.29 per share for the quarter, up from their prior estimate of $1.28. Wedbush currently has a “Neutral” rating and a $63.00 target price on the stock. Wedbush also issued estimates for SunTrust Banks’ FY2019 earnings at $5.75 EPS and FY2020 earnings at $4.88 EPS.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year.
Several other equities analysts have also recently weighed in on STI. Credit Suisse Group cut their price objective on SunTrust Banks from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, December 7th. Robert W. Baird raised SunTrust Banks from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $70.00 to $62.00 in a research report on Wednesday, January 2nd. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Saturday, January 5th. Jefferies Financial Group cut SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $71.20.
NYSE STI opened at $61.86 on Monday. SunTrust Banks has a twelve month low of $46.05 and a twelve month high of $75.08. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68. The stock has a market cap of $27.17 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.22 and a beta of 1.54.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 27th. This represents a $2.00 annualized dividend and a yield of 3.23%. SunTrust Banks’s dividend payout ratio is 35.09%.
In related news, EVP Jorge Arrieta sold 4,000 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $265,000.00. Following the transaction, the executive vice president now directly owns 8,662 shares in the company, valued at $573,857.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total value of $653,800.00. Following the transaction, the insider now owns 205,846 shares in the company, valued at $13,458,211.48. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in STI. Liberty Wealth Management LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at approximately $26,000. Sontag Advisory LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at approximately $27,000. Resources Investment Advisors Inc. grew its stake in shares of SunTrust Banks by 465.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 465 shares during the period. Capital Investment Advisory Services LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at approximately $30,000. Finally, ERTS Wealth Advisors LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at approximately $31,000. Institutional investors own 81.15% of the company’s stock.
About SunTrust Banks
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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